Examlex
The first scientific study of intellectual functioning was conducted by French psychologist Alfred Binet.
Downward-Sloping
A term used to describe a graph line that decreases in height as it moves from left to right, commonly associated with demand curves in economics, indicating that quantity demanded decreases as price increases.
Demand Curve
A graph depicting the relationship between the price of a good and the quantity of the good that consumers are willing to purchase at that price.
Monopsony
A market situation where there is only one buyer for a product or service, giving the buyer substantial control over the market price.
Collude
The act of cooperating or conspiring, especially in a secretive manner among firms, to limit competition or manipulate market prices.
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